The travel and hotel industry is a huge part of the global economy. It includes everything from hotels and short-term rentals to cruises, food and beverage services and meeting planning. The industry is constantly changing, with trends such as travel digitalization, sustainability and COVID-19 impacting all sectors. But some of these changes are unique to specific segments. For example, the home-sharing economy has challenged the traditional hotel industry by allowing travelers to stay in homes, apartments and even treehouses rather than hotels.
When planning a trip, most experts agree that booking accommodations about a month in advance is the best way to get the lowest rates. But what many people don’t know is that you should keep checking prices right up until you are about to check out. If you find a lower price, most hotel chains will honor it. That means they’ll give you the cheaper rate, upgrade your room or offer you bonus points.
Another tried-and-true method for saving money on hotels is to travel during the off season. That’s when hotels are desperate to fill rooms and often slash their rates or offer perks like free breakfast or spa credits.
Finally, it’s always a good idea to sign up for hotel loyalty programs. These will allow you to earn and redeem rewards, such as free nights or upgrades, more quickly. And if you ever have a problem during your stay, you’ll have the hotel’s direct contact information rather than being told to call a third party site for resolution.
